Opt-In Consent Form for ATM/Debit Card Overdraft Services
What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as Ready Reserve line of credit, and Automatic Overdraft Transfer from another Southside Bank account, which may be less costly than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices.
What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- ATM transactions
- Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.
If we do not authorize and pay an overdraft, your transaction will be declined.
What fees will I be charged if Southside Bank pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $29 each time we pay an overdraft.
- We will not charge you more than three (3) Paid Overdraft Item Fees per day for paying overdrafts on your account.
- We will not charge you any Paid Overdraft Item Fees if your account is overdrawn by $100 or less after all transactions have posted at the end of the day. If your current balance is negative by more than $100, you will be charged a Paid Overdraft Fee(s) for each paid overdraft item, up to three.
What if I want Southside Bank to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 1.877.639.3511, or complete and submit the form below. You will receive a confirmation email. You may also complete a form at your nearest branch.
